Netflix to Hit UK, Ireland in 2012

Netflix has lost nearly 80 percent of its market value since the company's shares touched a high of over $300 in July. Photo: Reuters

After a slew of rumors that have circulated on the Web since 2010, Netfix has officially announced its expansion to the UK and Ireland in early 2012.

The U.S. company says it will offer unlimited streaming on PCs, tablets and mobile devices at a “low monthly subscription price.”

“Upon launch, Netflix members from the UK and Ireland will be able to instantly watch a wide array of TV shows and movies right on their TVs via a range of consumer electronics devices capable of streaming from Netflix, as well as on PCs, Macs and mobile tablets and phones,” read the press release.

The company didn’t mention the price and it did not offer any details on the available content or supported devices yet.

Netflix has been streaming TV shows and movies to the U.S. since 2007 and it has given its members a huge selection over that time.

Recently Netfix had hiked its prices and announced a separate service for DVDs in the U.S., dubbed as Qwickster, which the company gave up on after a huge backlash from users. Netflix now continues to offer streaming and DVD rentals as one service.